C-III Capital Partners LLC, a commercial real estate investment management firm, has successfully completed its acquisition of Resource America (REXI), the parent company of real estate investment trust Resource Capital’s (NYSE:RSO) external manager. The acquisition includes 715,386 shares of RSO common equity, or 2.3% of RSO’s outstanding shares. In conjunction with the closing of the deal, Robert Lieber, executive managing director of C-III, has succeeded Jonathan Cohen as chief executive officer and president of RSO. Andrew Farkas, CEO of C-III has joined the RSO board of directors, replacing Jonathan Cohen, who has stepped down.
The stock decreased 3.30% or $0.43 during the last trading session, hitting $12.6. About 204,627 shares traded hands or 16.47% up from the average. Resource Capital Corp. (NYSE:RSO) has risen 28.63% since February 8, 2016 and is uptrending. It has outperformed by 12.14% the S&P500.
Resource Capital Corp. is a real estate finance company. The company has a market cap of $398.50 million. The Firm invests in asset classes, which include commercial real estate-related assets, residential real estate-related assets and commercial finance assets. It has a 25.33 P/E ratio. The Company’s investments in commercial real estate-related assets include first mortgage loans ; first priority interests in first mortgage loans; subordinated interests in first mortgage loans, and commercial mortgage-backed securities.
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